Ranbaxy raises Rs 500 cr by issuing 5,000 NCDs

Ranbaxy Laboratories today said it has raised Rs 500 crore via issue of non-convertible debentures to be utilised for general corporate purposes.

"The company on November 23, 2012 has issued 5,000 secured 9.20% redeemable Non-Convertible Debentures of face value of Rs 10,00,000 each, for cash at par, aggregating Rs 500 crore, on a private placement basis, for general corporate purposes," Ranbaxy Laboratories said in a filing to the BSE.

These debentures have been rated AA+ by CARE and are proposed to be listed on National Stock Exchange of India (NSE), it added.

Earlier in the day, the company had announced that it is recalling its generic version of cholesterol- lowering drug Lipitor from the US market, leading to temporary disruption in the supply.

The shares of the company declined by 3.27% from its previous closing price to end the day on the BSE at Rs 495.95 per scrip.